Wheaton Precious Metals (TSE:WPM) Upgraded to Strong-Buy by National Bank Financial

National Bank Financial upgraded shares of Wheaton Precious Metals (TSE:WPM) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning, MarketBeat reports. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $1.99 EPS.

Several other brokerages also recently weighed in on WPM. Canaccord Genuity Group increased their target price on Wheaton Precious Metals from C$90.00 to C$100.00 in a research note on Tuesday, July 23rd. National Bankshares upgraded Wheaton Precious Metals from a sector perform rating to an outperform rating and increased their target price for the company from C$90.00 to C$105.00 in a research note on Thursday. Peel Hunt increased their target price on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a buy rating in a research note on Wednesday, October 2nd. Finally, Eight Capital increased their target price on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a buy rating in a research note on Thursday, September 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Buy and an average price target of C$94.00.

Wheaton Precious Metals Price Performance

Shares of TSE WPM opened at C$83.78 on Wednesday. The business’s 50-day moving average price is C$81.90 and its two-hundred day moving average price is C$76.94. Wheaton Precious Metals has a one year low of C$52.15 and a one year high of C$87.37. The company has a market capitalization of C$38.01 billion, a P/E ratio of 48.99 and a beta of 0.70.

Wheaton Precious Metals (TSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.39 by C$0.06. The company had revenue of C$409.19 million during the quarter, compared to the consensus estimate of C$400.03 million. Wheaton Precious Metals had a return on equity of 8.16% and a net margin of 50.44%. On average, equities analysts anticipate that Wheaton Precious Metals will post 2.412993 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.214 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.86 annualized dividend and a yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 49.12%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.